On 5 June 2019, the Australian Business Economists hosted a Lunchtime Briefing in Sydney, featuring key speakers from the Australian Office of Financial Management (AOFM). Mr Rob Nicholl, Chief Executive Officer, and Mr Ian Clunies-Ross, Head of Investor Relations, shared their expertise on managing Australia’s debt portfolio and navigating financial complexities during uncertain times.

Mr Nicholl and Mr Clunies-Ross provided a comprehensive overview of the AOFM’s strategic initiatives, including its approach to sovereign debt issuance and cash portfolio management. They addressed the challenges of maintaining financial stability amidst global economic headwinds and evolving market conditions, underscoring the importance of resilience in fiscal policy.

Key takeaways from the briefing included:

• Debt Issuance Strategy: The AOFM has focused on an incremental approach to issuing treasury bonds, balancing the needs of investors while maintaining flexibility in managing the nation’s debt.
• Investor Engagement: Understanding and diversifying the investor base has been central to ensuring demand for Australian government securities in both domestic and international markets.
• Global Market Trends: The speakers explored the impact of global yield curve shifts and the importance of hedging strategies in protecting Australia’s financial interests.

This insightful event highlighted the crucial role of the AOFM in safeguarding Australia’s economic future, offering attendees a valuable perspective on the intersection of fiscal management, global markets, and economic resilience.